Accounting research in China: commemorating the 40th anniversary of reform and opening up

Abstract

This study reviews the influential accounting literature on China topics published both in international and Chinese journals in the recent four decades to celebrate the 40th anniversary of the reform and opening up in China. We first review the literature published in the first two decades, where normative research is dominant and financial accounting and managerial accounting are the main topics. Then, looking more in-depth at the most recent literature, we separately discuss the articles published from 1998 to 2007 and from 2008 to 2018, in which many topics are covered including financial accounting, managerial accounting, financial management and corporate governance, auditing and tax. Finally, conclusions and future suggestions are raised based on the issues explored over the past four decades.

Taking stock and moving forward: a systematic literature review on accounting professionalisation in China, 1980–2021

“…See, e.g. Chen and Chan (2009), Simunic andWu (2009), andWang et al (2018) for literature reviews on topics related to specific accounting and auditing techniques in China.…”

“…This is mainly because, compared with other research topics such as financial/managerial accounting, accounting professionalisation has attracted relatively limited scholarly attention within China (see, e.g. Wang et al (2018) for a review of accounting literature on China topics published in international and Chinese journals between 1978 and 2018). For those studies published in Chinese that do dedicate to accounting professionalisation, they have tended to provide a descriptive analysis of important events in the development of the Chinese public accounting profession (see, e.g.…”

“…The present literature review focusses on the extant studies published in English. This is mainly because, compared with other research topics such as financial/managerial accounting, accounting professionalisation has attracted relatively limited scholarly attention within China (see, e.g Wang et al (2018). for a review of accounting literature on China topics published in international and Chinese journals between 1978 and 2018).…”

Global competition and diffusion of the “A” list

“…Given the path dependent nature of the evolution of business and management disciplines, the road toward more widespread diffusion of the "A" list has significant ramifications for the future of the field. Doing research, publishing, and competing centered on the "A" list will not only impact how knowledge production is organized, but will also affect what kind of theories will be developed and how (Leung 2007;Mao 2018;Shaw 2017;Tsui 2007;Wang et al 2018). Next, we speculate along a series of dimensions, culminating in testable propositions.…”

“…Our propositions are designed to facilitate such future testing and debate. Struggles associated with the adoption of the "A" list and its ramifications for future faculty behavior, scientific progress, and university standing may unfold at a particular school or in a particular country such as China (Li and Peng 2008;Mao 2018;Peng 2012;Wang et al 2018;Xu 2009), South Korea (Kim et al 2007), and Mexico (Pederzini and Barraza 2019); or a region such as Africa (Zoogah and Peng 2019), Asia (Leung 2007;Meyer 2006;Peng 2007;Tsui 2007), and Europe (Macdonald and Kam 2007). While global competition is likely to assert its pressures, local logics and traditions may ultimately impact the adoption (or non-adoption) decision (Ansari et al 2010;Greenwood et al 2010), thus necessitating studies at both global and local levels.…”